Thursday, June 21, 2012

Most countries that fall apart do so not with a bang but with a
whimper. They fail not in an explosion of war and violence but by being utterly
unable to take advantage of their society's huge potential for growth,
condemning their citizens to a lifetime of poverty. This type of slow, grinding
failure leaves many countries in sub-Saharan Africa, Asia, and Latin America
with living standards far, far below those in the West.

What's tragic is that this failure is by design. These states collapse
because they are ruled by what we call "extractive" economic institutions,
which destroy incentives, discourage innovation, and sap the talent of their
citizens by creating a tilted playing field and robbing them of opportunities.
These institutions are not in place by mistake but on purpose. They're there
for the benefit of elites who gain much from the extraction -- whether in the form
of valuable minerals, forced labor, or protected monopolies -- at the expense of
society.

Tolerant, egalitarian Societies with high literacy rates, a military under civie control, a penchant for periodic, transparent elections, a free uncensored press, an independent judiciary under elected Gov oversight and a Nat"l Treasury under public scrutiny are the best bet.

wHoA!

h0t!

~hEy Y"all! DoN"t MiSs GsGf~!

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